The following data is provided for Garcon Company and Pepper Company. Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materials) Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 13,800 18,500 9,000 32,800 21,000 18,500 23,500 6,300 11,850 11,800 29,000 1,200 6,020 43,500 60,800 216,030 27,000 247,500 15,400 Pepper Company $ 18,100 22,050 15,000 24,250 39,400 14,900 19,600 9,000 13,750 3,600 58,500 9,640 3,900 67,500 49,000 292,510 17,700 163,825 23,950 Required: 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31, 2019 Sales $ 216,030 Less: Cost of goods sold Gross profit 216,030 Operating expenses General and administrative expenses Selling expenses Income (loss) before tax $ 216,030 Req 1 Garcon Req 1 Pepper Reg 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2019 0 Operating expenses Income (loss) before tax $ 0 Req 1 Garcon Req 1 Pepper Reg 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: : 0 Total current assets S 0 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: 0 Total current assets S 0 Required: 1. Compute the total prime costs for both Garcon Company and Pepper Company. 2. Compute the total conversion costs for both Garcon Company and Pepper Company. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total prime costs for both Garcon Company and Pepper Company. Garcon Company Pepper Company Direct materials Raw materials available for use 0 0 Direct materials used 0 0 Total prime costs $ 0 $ 0 Required: 1. Compute the total prime costs for both Garcon Company and Pepper Company. 2. Compute the total conversion costs for both Garcon Company and Pepper Company. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total conversion costs for both Garcon Company and Pepper Company. Garcon Company Pepper Company Direct labor Factory overhead 0 0 Total factory overhead Total conversion costs $ 0 S 0